I must say I always paid taxes and never had problems with them. 2008 I made some nice stock trading profits. Paid taxes for them all to the last penny. Actually, I taxes more than I had to, since the bank statement reported higher profits that actually occurred (must be a real gypsy bank). What the bank statement did not report, was the buy and sale of an ETF. I held it for 3 months, made maximal 1% profit of it. The IRS became aware that I sold this ETF, but they could not figure out when and for how much I bought it. Hence, they assume, the sales price is 100% profit. Not they want:
* back taxes for a profit that never occurred
* Fine me since I did not pay taxes for this profit that never occurred.
* on top of that, want interest for this whole cluster-fuck.
I did not receive some letters from them since I was abroad because I was totally broke. I have no idea how I can pay this. It makes me also think that I might have to go offshore. I have to save urgently for retirement and just can not afford that the IRS pulls some random gypsy charges out of nothing.
I must say I always paid taxes and never had problems with them. 2008 I made some nice stock trading profits. Paid taxes for them all to the last penny. Actually, I taxes more than I had to, since the bank statement reported higher profits that actually occurred (must be a real gypsy bank). What the bank statement did not report, was the buy and sale of an ETF. I held it for 3 months, made maximal 1% profit of it. The IRS became aware that I sold this ETF, but they could not figure out when and for how much I bought it. Hence, they assume, the sales price is 100% profit. Not they want: * back taxes for a profit that never occurred * Fine me since I did not pay taxes for this profit that never occurred. * on top of that, want interest for this whole cluster-fuck.
I did not receive some letters from them since I was abroad because I was totally broke. I have no idea how I can pay this. It makes me also think that I might have to go offshore. I have to save urgently for retirement and just can not afford that the IRS pulls some random gypsy charges out of nothing.